Developing Royalty Assets
in North America

Ely Gold Announces Corporate Name Change

November 20, 2017

Vancouver, British Columbia - November 20, 2017 - Ely Gold & Minerals Inc. (TSXV: ELY) (OTC Pink: ELYGF) ("Ely Gold" or the "Company") is pleased to announce that effective November 22, 2017, the Company will receive all necessary approvals to change the name of the Company to Ely Gold Royalties Inc.

Trey Wasser, Ely Gold's President & CEO commented, "Ely Gold Royalties has now completed a series of important property and asset purchases and we believe this name change better reflects our dynamic business model. The Company has originated or purchased 20 deeded royalties in the past 24 months and, in that time, we have increased our optioned property portfolio by 200%. We have successfully transitioned Ely Gold into an emerging royalty company and this name now reflects our value to shareholders as a low risk proxy to the gold price."

About Ely Gold Royalties

Ely Gold Royalties offers shareholders a low risk leverage to the current price of gold and low-cost access to potential long-term mineral royalties. Ely Gold has built a portfolio of properties that produce recurring cash flow from mineral property options, advanced royalty payments and the potential to generate future operating royalty payments and dividends. Ely Gold's growing royalty portfolio is organically developed from the consolidation, enhancement and resale of highly prospective, unencumbered, precious metals properties located in located in the Western U.S., with a focus on projects in Nevada. The Company's business model includes property acquisition and advancing the potential of each property, employing our extensive database, while retaining royalty interests. The growing portfolio, under this business model, is generating steadily increasing revenue from 17 optioned properties and 20 deeded royalties with future growth expected from over 12 properties currently available for sale or option.

Additional information about Ely Gold is available at the Company's website, at www.elygoldinc.com.

On Behalf of the Board of Directors

Signed “Trey Wasser”

Trey Wasser, President & CEO

For further information, please contact:

Trey Wasser, President & CEO
[email protected]
972-803-3087

Joanne Jobin, Investor Relations Officer
[email protected]
647-964-0292

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.